Golden Star Resources Ltd. - GSS STOCK NEWS

Golden Star Resources Ltd. (NYSE American: GSS) reported strong financial results for FY 2020, achieving 167.6koz gold production, a 7% increase from FY 2019. The all-in sustaining cost (AISC) was slightly above guidance at $1,003/oz. Q4 2020 saw a production of 40.9koz, down 2% from Q3 2020. Free cash flow was robust at $36.8 million, a significant rise from FY 2019. The company reduced net debt by 16% to $45 million and increased its cash position to $60.8 million. Looking ahead, GSS forecasts 165-175koz production for 2021 with an AISC increase to $1,000-$1,075/oz due to infrastructure investments.

Golden Star Resources Ltd. reported its Q4 and FY 2020 production metrics, showing a 7% year-over-year increase with FY 2020 production totaling 168,000 ounces. In Q4 2020, production reached 41,000 ounces, slightly down from Q3 2020. The company ended FY 2020 with $61 million in cash and reduced net debt by $5 million to $45 million. For FY 2021, production guidance is set at 165,000-175,000 ounces, with all-in sustaining costs expected to rise due to increased capital expenditures, reflecting a commitment to future growth and exploration, including a $15 million exploration budget.

Golden Star Resources Ltd. (NYSE American: GSS) reported the tragic passing of Peter Spora, EVP Growth and Discovery, on December 9, 2020. He had joined the company in November 2019 and was recognized for his extensive experience in exploration and corporate development with major mining firms. CEO Andrew Wray highlighted Peter's integral role in the company and his contributions towards promoting diversity within the mining industry. Golden Star operates the Wassa underground mine in Ghana and is committed to sustainable practices.

Golden Star Resources Ltd. reported its Q3 2020 results, highlighting a successful sale of the Bogoso-Prestea mine, leading to improved financial stability. This sale removed $24 million in negative working capital and a $53 million rehabilitation provision, enhancing its asset position. Q3 production from continuing operations at Wassa totaled 41.6k oz, a 20% increase year-over-year, with cash flow from continuing operations reaching $14.4 million. The company's cash position stood at $48.3 million, and net debt decreased by $7.4 million. The firm also revised its 2020 production guidance to 187-192k oz.

Golden Star Resources Ltd. (NYSE American: GSS) announces its upcoming third quarter 2020 financial results release, scheduled for October 28, 2020. A conference call will follow on October 29, 2020, at 10:00 am ET to discuss the results. The company, focused on gold mining in Ghana, aims to deliver strong margins and free cash flow. Golden Star is committed to sustainable operations and was recognized for its environmental and social responsibility.

Golden Star Resources Ltd. (NYSE American: GSS) has announced an extension and increase of its senior secured credit facility with Macquarie Bank, boosting the facility to $70 million, a $20 million increase from the previous outstanding balance of $50 million. The new arrangement defers $5 million quarterly repayments until September 2021, generating $35 million in additional liquidity. Additionally, the company has entered into gold price hedging agreements, securing a floor price of $1,600 per ounce for 87,500 ounces over 2021 and 2022.

Golden Star Resources Ltd. has finalized the sale of its 90% interest in the Bogoso-Prestea Gold Mine in Ghana to Future Global Resources Limited (FGR). The initial $5 million cash payment has been deferred until March 30, 2021, pending FGR's reclamation bonding. The deal includes subsequent payments totaling $25 million and potential contingent payments of $20 to $40 million, based on gold prices. This transaction enhances Golden Star's balance sheet, allowing for increased investment in the Wassa mine and exploration in the Wassa-HBB area.

Golden Star Resources Ltd. (NYSE American: GSS) announced the release of its 2019 Corporate Responsibility Report, which incorporates enhanced ESG disclosures including SASB standards and the Mining Local Procurement Reporting Mechanism. Highlights include 100% compliance with environmental regulations and a flagship initiative providing sustainable livelihoods for over 2,000 people. The CEO emphasized the importance of balancing financial success with positive community impact. The report further showcases a commitment to gender diversity, targeting 20% female workforce by 2025, with an increase to 7% achieved in 2019.

Golden Star Resources Ltd. (GSS) released its Q2 2020 results, reporting gold production of 50.6k ounces, a 5% increase from Q2 2019. The Wassa Gold Mine produced 44.8k ounces, while the Bogoso-Prestea Mine produced 5.9k ounces, affected by COVID-19 and operational challenges. Average realized gold prices rose 28% to $1,626/oz. The company achieved cash flow from operations of $27.1 million, doubling Q1 2020. Total cash rose to $45.1 million, with net debt reduced to $57.5 million. A binding agreement for the sale of the Bogoso-Prestea Mine for up to $95 million was also announced.